Dhaka:Business leaders and entrepreneurs from Bangladesh and Kuwait have recognized significant potential for joint investment in sectors such as plastics, ceramics, and leather goods. They expressed interest in enhancing bilateral trade, investment, and economic cooperation between the two nations.
According to United News of Bangladesh, these prospects were discussed during a virtual meeting between a Bangladeshi business delegation and the Kuwait Chamber of Commerce and Industry. The meeting was organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and chaired by FBCCI Administrator Md Fazlul Hoque. It was attended by representatives from the Kuwait Chamber, FBCCI officials, diplomats, and leading industrial entrepreneurs from Bangladesh.
Md Fazlul Hoque emphasized the longstanding friendly relations between Bangladesh and Kuwait and invited Kuwaiti entrepreneurs to invest in Bangladesh. Highlighting Bangladesh's strengths in leather, plastics, ceramics, processed food, readymade garments, and ICT, he stressed the necessity for joint ventures to capitalize on emerging economic opportunities.
Bangladesh's Counsellor (Political and AIOC) in Kuwait, Mohammad Moniruzzaman, pointed out the significant export potential in Kuwait for Bangladeshi products, particularly in readymade garments, leather goods, ICT, and plastics, given Kuwait's strong purchasing power and market opportunities. The Bangladesh Embassy in Kuwait is actively working to enhance communication and partnerships between businesspeople and investors from both countries.
During an open discussion, Md Shamim Ahmed, President of the Bangladesh Plastic Goods Manufacturers and Exporters Association, invited Kuwaiti entrepreneurs to invest in Bangladesh's petrochemical industry. Ahsan Khan Chowdhury, Chairman and CEO of PRAN-RFL Group, noted the substantial volume of petrochemical and petroleum products imported from Kuwait by Bangladesh, creating opportunities for joint investment. He also called for resolving visa-related issues to facilitate business activities and movement between the two nations.
Mainul Islam, President of the Bangladesh Ceramic Manufacturers and Exporters Association, invited Kuwaiti investors to explore opportunities in Bangladesh's ceramics sector, highlighting potential joint ventures to establish tableware ceramic factories in Kuwait due to existing constraints in electricity and gas supplies in Bangladesh.
Abdul Aziz, a representative of the Kuwait Chamber, highlighted the export potential of Bangladeshi ceramic finishing products for Kuwait's housing and construction industry. Imad Al-Zayed, Deputy Director General of the Kuwait Chamber of Commerce and Industry, assured that the organization would actively facilitate information exchange and strengthen business connections between entrepreneurs from Bangladesh and Kuwait.
FBCCI Secretary General Md Alamgir, along with business leaders and representatives from the Bangladesh Embassy in Kuwait, also participated in the virtual meeting.